Cornerstone Advisory LLP grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,639 shares of the financial services provider’s stock after purchasing an additional 1,386 shares during the quarter. Cornerstone Advisory LLP’s holdings in Wells Fargo & were worth $867,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Harris Associates L P lifted its stake in Wells Fargo & by 1.2% in the first quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock worth $1,324,492,000 after acquiring an additional 286,710 shares during the period. Boston Partners lifted its stake in Wells Fargo & by 140.1% in the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after acquiring an additional 11,139,780 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Wells Fargo & by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 14,919,302 shares of the financial services provider’s stock worth $826,679,000 after acquiring an additional 607,497 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Wells Fargo & by 1.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,648,271 shares of the financial services provider’s stock worth $756,251,000 after acquiring an additional 232,417 shares during the period. Finally, Longview Partners Guernsey LTD lifted its stake in Wells Fargo & by 5.3% in the second quarter. Longview Partners Guernsey LTD now owns 12,544,667 shares of the financial services provider’s stock worth $695,100,000 after acquiring an additional 636,994 shares during the period. 74.88% of the stock is owned by hedge funds and other institutional investors.

WFC has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed a “buy” rating and issued a $58.00 price target on shares of Wells Fargo & in a research note on Tuesday, September 5th. Keefe, Bruyette & Woods set a $61.00 price target on Wells Fargo & and gave the stock a “buy” rating in a research note on Friday, August 25th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 price target on shares of Wells Fargo & in a research note on Friday, July 28th. Nomura raised their price target on Wells Fargo & from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, September 28th. Finally, Instinet reaffirmed a “buy” rating and issued a $65.00 price target (up previously from $64.00) on shares of Wells Fargo & in a research note on Saturday, September 30th. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $57.20.

Wells Fargo & Company (WFC) opened at $54.06 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $266,205.53, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.30 and a beta of 0.97. Wells Fargo & Company has a twelve month low of $49.27 and a twelve month high of $59.99.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The company had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. Wells Fargo &’s revenue was down 1.8% compared to the same quarter last year. equities analysts forecast that Wells Fargo & Company will post 3.97 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.89%. Wells Fargo &’s payout ratio is presently 40.31%.

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Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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